Greenbacker Development Opportunities Fund I LP, which offers versatile capital and technical steering for growth-stage clear energy firms, has made an funding in Sunrock Distributed Generation (Sunrock DG), a financing and asset aggregation platform for business and industrial (C&I) solar and energy storage tasks throughout the nation.
The partnership with Greenbacker will enhance Sunrock DG’s capability to supply financing for small and medium companies (SMBs) transitioning to solar energy. It will even allow Sunrock DG to increase its pipeline of middle-market business solar and storage tasks. Historically, assembly the clear energy wants of SMBs has been prohibitively costly to handle.
Sunrock DG develops smaller-scale business solar tasks that enable companies, municipalities and nonprofits to entry the monetary and environmental advantages of solar power. Given challenges in attaining economies of scale, many firms haven’t been capable of supply engaging third-party financing merchandise to middle-market homeowners. Sunrock DG’s proprietary underwriting standards and know-how, novel financing sources and community of over 100 developer companions throughout the nation enable it to supply this market section each financing and reasonably priced merchandise.
“We believe distributed generation has an inherently long tail, with the best opportunities and highest yields in the smaller end of the market,” says Benjamin Baker, managing director at Greenbacker. “We’re thrilled to partner with Sunrock DG to expand our presence in C&I solar and enable Sunrock DG to accelerate its growth and meet the immense demand for low-cost clean energy solutions, particularly in light of rising power prices.”
“The solar market has been ineffective at serving middle-market commercial customers for the last 20 years,” states founder Claire Broido Johnson. “Through our collaboration with Greenbacker and our deep network of developer partners, we’re looking forward to bringing more thoughtful financing structures to this underserved segment of the market.”
Greenbacker Capital Management established the Greenbacker Development Opportunities Fund I LP in 2020 to put money into firms targeted on sustainable infrastructure improvement.